The financials
Ardelyx, Inc. by the numbers
Ardelyx, Inc. (ARDX) reported revenue of $94M in Q1 2026 (quarter ended March 31, 2026), up 27% from the same quarter a year earlier. That came with a gross margin of 95% and net loss of $38M. For the full year FY2025, revenue was $407M (+22% year on year) and net income −$62M. Its largest product in 2026-Q1 was Product IBSRELA at $70M, 73% of the disclosed total, just ahead of Product XPHOZAH at 24%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $94M | $74M | +27% |
| Gross profit | $90M | $62M | +45% |
| Operating income | −$33M | −$36M | n/a |
| Net income | −$38M | −$41M | n/a |
| Diluted EPS | −$0.15 | −$0.17 | n/a |
| Product | Revenue | Share |
|---|---|---|
| Product IBSRELA | $70M | 73% |
| Product XPHOZAH | $23M | 24% |
| Product And Service Other | $1.1M | 1.2% |
| Non Cash Royalty Related To Sale Of Future Royalties | $695K | 0.7% |
| Product Supply | $354K | 0.4% |
| License | $51K | 0.1% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $95.6M (-16%)
Product IBSRELA grew +58% year on yearLicense -99% year on year
Segment Latestquarter on quarteryear on year
- Product IBSRELA$70.1M$70.1MQoQ -10%year on year +58%-10%+58%
- Product XPHOZAH$23.3M$23.3MQoQ -15%year on year -0.48%-15%-0.48%
- Product And Service Other$1.1M$1.1MQoQ -77%year on year -83%-77%-83%
- Non Cash Royalty Related To Sale Of Future Royalties$695.0K$695.0KQoQ -80%year on year -32%-80%-32%
- Product Supply$354.0K$354.0KQoQ -year on year +39%-+39%
- License$51.0K$51.0KQoQ +104%year on year -99%+104%-99%